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Regulatory

ASIC's Westpoint action faces delay

MICHAEL HOBBS  |  FRIDAY, 27 JUN 2008
ASIC's $245 million case against Westpoint hits a snag after the Federal Court ruled the regulator did not have the power to carry on proceedings started by Westpoint's liquidators.

Deloitte warns against split regulation

MICHAEL HOBBS  |  TUESDAY, 24 JUN 2008
Deloitte supports the federal government's Green Paper on financial services and credit reform but warned against separately regulating mortgage and non-mortgage lenders.

ATO sends warning to super fund trustees

MICHAEL HOBBS  |  MONDAY, 16 JUN 2008
The Australian Tax Office (ATO) is warning financial advisers and accountants to ensure their clients aren't moving assets into their funds and failing to report the total value of their portfolio to avoid raising their tax costs.

Industry funds steering clear of FHSAs

WWW.THESHEET.COM  |  FRIDAY, 13 JUN 2008
The release this week of Australian Prudential Regulation Authority draft prudential standards for super funds that plan to offer first home saver accounts has confirmed the view of many fund trustees that the FHSA structure and regulatory framework ...

APRA hunts down 32 funds

ALEX DUNNIN  |  WEDNESDAY, 11 JUN 2008
APRA is flexing its muscle and threatening to remove 32 trustees from their super funds.

Paid maternity leave must include super: AIST

ALEX DUNNIN  |  TUESDAY, 10 JUN 2008
Paid maternity leave schemes must not ignore superannuation, warns the Australian Institute of Superannuation Trustees (AIST).

FinLit teachers package released

ALEX DUNNIN  |  THURSDAY, 5 JUN 2008
The Financial Literacy Foundation has finally released a support package for school teachers.

Govt outlines credit reg reforms

ALEX DUNNIN  |  WEDNESDAY, 4 JUN 2008
In a major step towards reforming regulation of credit products, the government has released a green paper outlining how the States could transfer powers over mortgages, mortgage brokers, margin lending, non-bank lending and trustee companies to the ...

Research and rating firms welcome Govt review

MICHAEL HOBBS  |  FRIDAY, 23 MAY 2008
Research houses have welcomed a review by the Australian Securities and Investment Commission (ASIC) and Treasury into the role they, along with credit rating agencies (CRAs), played in the recent financial market turmoil and subsequent corporate collapses.

Buck stops with trustees

ALEX DUNNIN  |  FRIDAY, 23 MAY 2008
Even though trustees of retail and not-for-profit super funds are subject to the same laws, they have evolved different ways of executing their roles, said Senator Nick Sherry minister for superannuation and corporate law.